Diamond Sports Group $8.6B in debt, faces bankruptcy

Image for article titled Bally Sports that can drive baseball towards paying attention to what's going on on the field

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MLB’s biggest problem in the last few years is that too many teams don’t really care if their team wins or loses. They will say all the right things, and can make deals or deals just enough to fool their stupid section of fans into buying tickets or buying a new Carlton Fisk (Sox) jersey. white or red? It’s up to you!), but it’s all a ruse. Thanks to revenue sharing, national TV contracts, sponsorships, and local TV deals, the money will come right before teams have to sell tickets. And so they did.

The last part of that equation can be exhausting.

Subsidiary Sinclair Diamond Sports Group debt restructuring

Diamond Sports Group, a subsidiary of broadcast Sinclair running their sports RSNs after they picked them up from Disney picked them up from Fox, appears to be preparing for a restructuring of its $8.6 billion debt in bankruptcy court. There are many business and financial terms and policies that need to be approved, but in the long term and short term, DSG has the ability to will forgo an interest payment they owe, which is enough for them to declare the bankruptcy they’ve been rumored for so long.

If they go that route, all their contracts with the MLB, NHL and NBA will essentially disappear overnight. Based on Bloomberg, If Diamond, which operates under the Bally Sports brand, filed for bankruptcy, potentially risking vital broadcast rights revenue for leagues like the MLB.

MLB . TV contract

No league uses their TV gigs as a crutch like the MLB teams. Eg, The Louis Cardinals are currently earning about $66 million a year from Bally from a 15-year, $1 billion deal they signed with Fox Sports in 2015. While the Cardinals are among those supported. better teams in the league through attendance, you would have to think that $66 million would be disparate would definitely be something they might notice. Texas Squad — you might remember them from episodes like giving Jacob deGrom, Corey Seager, and Marcus Semien their own Caribbean islands in cash — signed a $1.6 billion, 20-year deal in 2010. There are 17 other teams on Sinclair/Diamond local TV deals, all of which will upset the accountants. angry when that local TV money hangs out with Harvey the bunny.

The buzz has been that the the tournaments themselves will end the purchase right to suffer from bankruptcy, although it is not quite simple and involves a lot of processes blinded me reading about them. But it can allow MLB maybe finally do it with Byzantine and its irony blackout rule for the MLB Extra Innings package if it ends up owning the teams’ local TV rights. However, that would be a compounded property, not an overvalued total which teams are collecting from Bally for their local TV rights. It’s hard to see the Cardinals raking in $60 million from that kind of setup each year. That hopefully means they and a bunch of other teams might actually have to care more about ticket sales, which is often related to how a team performs in the standings.

The NBA and NHL teams will no doubt find it difficult, but none of them use the same local TV deals as the MLB to justify their inertia in improving their teams. It’s not the big revolution MLB might need, but at least it’s a start. Or maybe it’s simply that Iowa fans can actually watch a baseball game live on TV instead of being drawn and divided by the local rights of the Cubs, Cardinals, and Twins. Baby steps into the elevator.

Jack Edwards gets his

Occasionally, we enjoy watching or reading about someone getting exactly what they deserve. In the grand scheme of things, Jack Edwards must answer for his underage shame and nonsense Pat Maroon’s Lightning-Bruins game won’t throw the world off its axis, but any level of appearance is welcome.

Last night was the first game the Bruins played Lightning since, and Edwards came to apologize, it was a step in the right direction. That doesn’t mean that Maroon has to automatically accept it, and it seems that he is very not. And to be fair to Edwards, no matter what I had to do, it seemed like he stood there and accepted it knowing it was exactly what he was supposed to do. Even from Image circulating on Twitter, you could tell Maroon really didn’t have much time for anything Edwards had to say.

Edwards got what was coming for him, which is all any of us could ask for. Sometimes, it all just works.


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